Oakland, Calif., June 15, 2023 (GLOBE NEWSWIRE) -- Great cultures drive company performance, and this year’s winning regional workplaces have proven that to be true.
The Fortune Best Workplaces in Chicago™, Texas, New York, and the Bay Area outperformed typical U.S. workplaces across productivity, retention, and recruitment measures.
Out of all the measures of the employee experience among the winning companies, feeling welcomed topped the list.
- Employees who felt welcomed when joining companies in the Bay Area and Texas are 40% to 50% more likely to recommend their companies.
- Employees who felt welcomed when joining companies in Chicago and New York are 10% to 30% more likely to be agile.
Making employees feel at home is one of the five areas of the employee experience critical to surviving and thriving amid downturns, according to a 15-year recession study from Great Place To Work. How welcomed employees felt predicted company performance.
Company pride is the No. 1 recruitment driver across all regions
Employees who feel high levels of company pride are 4.3 to 6 times more likely to recommend their company to others.
Pride also drives retention and is second only to meaningful work
- Employees who feel pride are between 1.8 and 2.3 times more likely to stay at their company.
- Employees who feel their work is meaningful are 2.8 to 3 times more likely to stay at the company.
Trust in hard economic times
In today’s economic climate, no company is immune to layoffs.
But workers who trust that management will lay people off only as a last resort are more likely to look forward to work, give extra on the job, and adapt quickly to business changes, according to Great Place To Work® research.
“These workers trust their leaders to make tough decisions, and that comes from a reservoir of trust built long before hard times hit,” says Michael C. Bush, CEO of Great Place To Work.
When employees believe layoffs are a last resort at their workplace, the quit rate is cut in half and motivation to come to work is 210% higher.
When employees at this year’s winning workplaces said they believed management would do everything it could to avoid layoffs, employees were:
- 3.1x more likely to be motivated to come to work
- 2.9x more likely to recommend their company to others
- 2.4x more likely to want to stay with their company
- 2.2x more likely to quickly adapt to business changes
- 1.9x more likely to report giving extra effort
“This is why trust matters,” says Michael C. Bush, CEO of Great Place To Work. “This is how it shows up. It’s hard to stay motivated and be ‘all in’ when you wake up with fear and dread that you’ll be out of a job.”
Visuals available: 2023 Regional List Winners - Google Drive
About the Best Workplaces in Chicago™, Texas, New York, and the Bay Area
Great Place to Work® selected the Best Workplaces in Chicago, Texas, New York, and the Bay Area in 2023 based on more than 420,000 employee responses. Company rankings are derived from 60 employee experience questions within the Great Place to Work Trust Index™ survey.
About Great Place to Work®
Great Place to Work is the global authority on workplace culture. Since 1992, it has surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Its employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything it does is driven by its mission to build a better world by helping every organization become a Great Place to Work For All™.
Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.
Attachments
- Trust in Management Is Critical Amid Layoff Threats
- Company Pride is the No. Driver of Employee Recruitment
Kim Peters Great Place To Work (415) 844-2574 kpeters@greatplacetowork.com
